Page
ዕከ
THE CHINA MAIL,
FRIDAY, JUNE 13, 1958.
Market Takes A Breather COMMODITY PRICES
To
HONGKONG Expected
Mark Time
STOCK
EXCHANGE
Our Own Correspondant
Business done on the Hong-
Stock Exchange
this
For A Period
By A SPECIAL CORRESPONDENT
morning amounted (0 apThe Hongkong Stock Exchange continued
proximately $301,000. Noun
quotations and the mening's
transactions were:
Shares Buyers Sellers Bales
40 702
BANKS
20 Dande
INSURANCES
Union ..... 713
Underwiller,
€1.00
10
11.16
8.20 1000
2014
420
411
Provident,
XD
SUPPING
Waterboal.
Wheeluck
K. Whart
Dock....
101.....
LAND, FIC,
$2.10 12.30 2000 19 12.21
1000
HK flotel. 20.70 2011
331
HK Land. Humphreys 16.10 169
12Y1
100 K -1000 AP
“ነ 13.00
Renity ROIDER Amalg. 1.470
1.03 165 7000
1100 20000
Sono N
113.
1000 »
Tsunt
A. Tawah 1829
STILITIES
Truth
Star Ferry
Yauma.
C. Light
Eleciate
1,00
23:00 20:30 3000.
111
17 D
1520
1.45
1.40
on
its upward climb this week, but prices levelled off yesterday when some most light scale profit-taking sont
shares down slightly from their week's highs.
The market appears to be taking a breather and it is expected to mark time, after a very active half month,-pending further developments.
The market had been boosted ingain by the approach of the by the Cight of enpital from interims in July and August,
further reduc Singapore and indunesia, and the and a possible 15.291 reduellen of fre local banktion af bank interest rates. This Also it seems | casing of credit is expected in 1.65 interest tutes,
that many local businessmen the near future. have been linding trading dim- eut, and have invested some of 1926 | their money
the Stork 1300 Market.
Many bought shares the market was rising while Burt this may be one of the cx- planations for the sudden flood of money onto the market in trent weeks
12.00 12.00 100 20 120
יצר
די
--
220 2020
400 60
200
500 w
iou
Telephone 77.10 27.40 INDUSTRUALS
Cement 22 22.10
لأن المته
There is not much chance of the market-under present con 20itions-taking a big alp, as there is very little speculation on the market nowadays.
If interest sags in the coming be atimulated weeks. ₤1 may
Amoy Can
STORES, ETC.
Dairy 1720 17
210 0
1740
17.40
Walang JODO
AL
500
ID 190
1500
10 90
1. Crav
17.30
COTTONS
4.TU 4.50
1000
4.00
7.99
Textiles.. Nanyang,
MISCELLANEOUS
Viru
.... 14.00
INVESTULENTS
Allled
414 100
CHATTER ON WALL STREET
New York, June 12. The markets performance to date indicates that the upward drive will be re- sumed before long, ac cording to Van Alstyne, Noel & Co.
holds it is Dreyfus & Co. conceivable Atchison, Toepka & Santa Fe might report earning of $2 a shore for 1958 nginst 52.30 for 1957....Baltimore Ohio Arst quarter should its low earnings
point
mark with at
possible not for the year $4.00 to $4.50 a share against $8.50 Ini 1057...Southern Pacifle at the worst will show $5.50 a share for 1958, affording the $3 good
coverage for dividend Southern Railway 1858 outlook la for $4.25 a share against $4.79 in 1087
SUGGESTIONS
E. F. Hutton & Co.
llats
some new trading suggestions
Sunray
Mki-Continent
Bullish
Sentiment
In London
After being depressed for the past number of weeks due to one business concern selling a large black Hongkong Banks had a good rise of their holdings, this work closing at $782.50. Unlons tacked on 50 cents for the week
Lands were in good demand dating the week and they rose to $34 under
pressure before
falling back to a steady $33.74. a gala of 75 cents on the week. The price of Hotels has been well maintained throughout
Lombard
Union Wheelocks
HK Whart-
COTTON
NEW YORK
Prices af cotton futures closed today as follows:
Spot: 30.30 July: 36.00-10: Oct: 50.84; Mar;37:00-01: 30.67: May 18.07; July: 36.20 Oct: 24.80.
NEW ORLEANS
Prices of cotton futures clused.
today nn follows:
Sput: 33.10; July: 30.01: Det: 36.8 De: 30.01: Mar: 3 May: 36.95; July: 3.21 Oct: 24,837
LIVERPOOL
★ The Share Market At A Glance ★
Up or
May 15
HK Bank
775
May 22
702
May 20 June & 70214m
763b
June 12
78875
Down +$17.50
Job 11
28xd
20T
20b
30
+$1
70
700
21314
72
+300
0.10
0.10
6.10
0.18
6:20
+100
10zb
1026
1016
1060
1020
-$3
HK Docks
42
40566
418
414
414
+250
Provident
11.505
11.40
11.50
12
12.29
-4-200
IK Hotels
$8.90
18,70
10.40
20.70
20.90
+-200
HK Lands
3214
3234
3244
33
33%
+++760
IIK Really
1.056
1.620
1.556
1,65
1.026
214
HK Trama
24.70
24.70
25.10
25.70
28.10
++400
Star Ferry
-111b
111b
113n
112
£12b
-$1
Yaumatin
95
94D
BAYA
0034
1
071⁄2m
+$1
17.50%
17.30
17.50
17.70
1.80
+100
Der/fan:
20
Mar/Apr:
20.80
20.60
27.10
27.80
28.30
+500
Moy/June: 28.60,
20.40
20.10
20.30
27.10
27.00
+4-300
G. 1. Cement.
22
21.70
!
22.10
23
22.00
-100
Dairy Farm
16.30
10.10
10.80
17.20
17.40
+200
Mixed Contract July/Aug: 25.73; Oct/Nov: 20.10: Dec/Jan: 20.45; Mar/Apr: May/June: 20.05.
20.75;
10.80
10.80m
10.90
10.00
10.50
steady
6.356
5.400
6.40n
5.536
5.75
+200
in
4.20
4.20%
4.40
4.600
4.501
-100
14.201
10.201
10.201
10.201
10.50T
+306
4.55
8.501
4.55% 8.45
4.425 8.30
4.55b
4.00
8.45m
7.80xd
Ch Light
Electrics
HK Telephone
A. 6. Watson
Yanglaze
Allied
HK & FR Inv Textile Corp Nanyang
+50
OILS LEAD BUSINESS PICK-UP ON WALL ST.
New York, June 12.
Stocks advanced on increased volume today with the oil
shares leading.
Haileon! Issues also registered gait. Many industrial res met demand that lifted prices one to two points,
The general
13 utes..
ds stocks 41 bonden
comm. future price index.
Merabi Iron Corp. Minnesota Mining Mission Development Montgomery Wa Motorola fc. ....... National Biscuit Co.
York Central
2427
Cotton future closings, pence per lb. were as follows: American Contract
ก
Generat markets, ci! basis, porta:
June July and Aug. 23-2 Estate crepa
this July Thick July
Singapore rubber murkela day.-U.P.I.
and
Amsterdam holl-
were on
SUGAR
New York, June 12. World No. 4 sugar futures closed today one to three points Bower with males of 12
fracts,
coll~
The domestic No. 6 falutes
July/Aug: 25 Oct/Nov: 25.01. closed two points higher to one 20.30 point tower with sales of 153
contracts.
SAO PAULO Cotton future closings, cruzeiros per kilo were nu fol lowe:
July: 42.80; Get: 43.40,
In the United States, the average price of one-inch cotton at 14 der'gnated spot markets wog 34.80 cents.
Total sales were 42,444 1;alest, --U.P.I.
RUBBER
NEW YORK
Contract No. 4 (world)
July 3.30 Sept: 3.40; Out: 3.40; Mar? 2.35: May: 1.35; July: 336; Sept: 3.33 Spot-(cents per to fob Cuba: 3.40.
Open interest: 1,020 contracts,
Contract No. 6 (domestic) July: 5.78: Sept: $.80; Mar: 0.58; Spot cents per lb. eif NY ex-duty): Open Interest: 1,121 contracts— ...
5.10.
TORDIGN EXCHANGE
NEW YORK Closing rates were: England clai
3-dayn
3
Rex rubber futures closed to- Ausïmalka
day 22 to 30 points higher with New Zealand sales of 20 contracts. ptices:
Closing Broa
South Africe
Uruguay
July: 20.23 Sept: 20.12; Nov; India 26.16 Jan: 20.65 Mar 20.; Any: Pakistan 30 July: 20.
LONDON
The rubber market was steady with spot quoted at 221% pence
ver . Prices;
Other unchanged.
LONDON Closing rutes word;
New York
Montreal
Amsterdam Aruskels
Frankfurt
Attint
.1525
2.8-0/16-285-7/10 2.101,-2,70%. 10.3851-10581 341,4236-150,47 112016-11.7ONS 376490-17447
20.01-20.0134 317742-1170
F'atte
Stockholm
Vienna
Zurich
21-22 Other unchanged.
14489)-144071 72.45-72.48 1125-13.20
70.
142.58 90.0 158 04
No. In spol
22-2211
Seltlement house term:
market WDS
Closing Prices
list of items.
Allen Juc. Aey.
$ 10%
National Steel Corp.
National Col Reg. "A" National Dairy Prod. Nalons Lead
July
221x-221
21.-221.
Oxle
401
221-22"
01
July/Bept
Oct/Dec.
2315-224
Allied Chemicals
70%
221-23-
Alle Mila ine.
1519
Allis Chainers
231
American Drake Shoe
American Airte
Oun Mathieson
1924
Am. Cable & Radio Corp.
Otts Elevator.....
American Cyansmid Cu
4926
149
4324
100
14
23
Utilities have
under been steady demand all week and price changes have been fruc-around is 1958 highs, helped
along by either way ional
"The most upward
business active shores in this section favourable Inve bren Trams, Lights, Trading picked up substantially. Electrics and Telephones.
Late in the day Zenith Radio was given a whirl that sent it up three points,
Goodyear had
This week's turnover droppet by about half a million from $5.00 million to $4.94 million.
17 higher, one un- Tally way chaiged and six lower, compared with 16 higher, four unchanged and two lower Inst week,
Market Diary
Here is a market diary of the
London, June 12. Despite the lack of progress In the London bus and duck strike negotiations week: the stock exchange car-
Friday: ried on with yesterday's advance.
Monday:
a similar gain in the tyres, Gains in the oils ranged to more than two points in Kern County Land. Alcoa ran up nearly three in the Aluminium group on the bellef the Government may elcel to add to its niuminium stopile. Dresser Industrials ran up three in the specials
A. & Forga. Power Am. Gas & Electic Am. Home Prod. A. Mach & Fdry. American Metal American Salthig Am. 9ugar Ret. American Tet & American Tou
Anaconda Cupper Arnes Steel Armour..... Atlas Cons. Mik Baldwin-Line-ilam. Daumere & Ohio
Banoffelni Finance
Of a total 1,198 Issues traded, 695 were higher, with 109 touch- Useful gains
320 lower oning new tops, and broad front. T/O: with 40 setting now lows. $1,433,000.
New York Stock Exchange Boeing Rules steady,/0: volume was 2,700,000 shares.
New York Stock Exchange Prices moved with-bond volume was $0,$20,000. in narrow limits.
Amerlean Stock Exchange T/O: $1,218,000,
volume was 940,000 shares. Wednesday: No material change.
T/O: $310,000.
Dow-Jones closing averages were:
Behind the more bullish gen- ilment was the expectation that Tuesday:
in: the a bank rate reductiim 18. ofling.
made
Gilt edged securities further headway with gain up to five shillings, 244 per cent Consuls were up half a crown at
$1500 und 4 per cent Consols | and 3 per cent Transport up 57-.
DOLLAR. STOCKS
Bollar stocks were firm with Canadian Paeli's aged spot of £51.50 a gain on the day of C1.2.0. The premium was un ehunger at 3 per cent.
Industrials maintained their all,recent firm undertone and a toår i TXL O, United Electric Coal, list of galos had been establish- j United Industrial Corp., United by the close. Whelan Drug. Universi Leof
Shipping shares came into favour under
Com-
Tobacco and Young Spring & lead of British an Wiro.
were su
partes. Steel shares were all
Thursday:
$1,100,000.
Reacted fractional ly to
some light
scale profit-taking.
T/O: $876,000,
30 Industriels
20 rails....
Norfolk Western Ry' Norli Ainer. Aviation North-west Airilnes
Owen-lllinals Gines
Oxford Paper Co.
(com.
Tacific Gas & Elec Pan American Airways
Paramount Pictures
Parke Davis Co
Ponny J. C. Co.
4414 Penn. Sel Co.
20% Philip Morria
£70 Procter & G
Pittsbur
47
| Publickar Industries
Radio Corporation
10%
Republic Steel
145
Reynolds Melal
201
Sears, Roebuck & Co.
241
Shell Ol Co.
Bendix Aviation Corp. Benguet Comp Bellichem Steep
BAY
Saint Reg. Paver
Sinclair T
43%
Shoony Mobiloti
Solar Aircraft
Bonden
Co
Burroughs Add Machine Calif. Packing Corp... Campbell Soup Co.
da
Bouth Puerto Rico Sup
Sugur
Southern National G
40
Htandard Drazicha
Southem Hallway (Con)
Canadian Pacife
17
Standard Out of Cal
Chee (J. 19 Co.
Standard Out of Int
Cat. Tractor ...
04!
| Standard Oši of NJ,
10
eat
Chase Manhat. Bank
Chrysler Motors
401
171.42
Cluett Peabody
40
CIE
Swift & Co.
Colombian Carbon Cu.
3011
Texas Co
Commercial Credit
50%
Textron Inc.
Cummonwealth Elec.
21
Tide Water Ason. Ou
Consolidated Edison
55
Tri-Cont. Warrants..........
Continental Oll of Del.
525
se
Union Carbide
24
Celanese Cor
C. I. T. Financial Corp
11703 Colgate-Paimolive Co.
WILL MUTUAL FUNDS
HURT HONGKONG'S STOCK MARKET?
By A SPECIAL CORRESPONDENT
Crown Zelierbach Cuban Amer. Sugar. Diamond Alkali *** Diamond Match Co. Douglas Aircraft Dow Chemicals Dupont de Nemour Eastern Airline En Kodak
Paso National Gua
Family Finance Corp.
Firestone Tyre & Rubber
Ford Motor 1999
General Dynamics
General Electric General Focca General Motors Gen. Pub. Utl. Getty Off
: Tyre & Rubber udden Co.
monwealth while stores, textile What effect has the investments of Hongkong Standard and Poora
and Tobarce shares says
people on the American and Canadian Stock Chance Vought might rise to 9.60 this year, against 5.65
Markets had on the Hangkong Stock Ex-Goodrich (B. F.) Co. change? Very little, is the consensus of opinion in Ice House Street.
shere in 1057-U.P.1.
guin reflecting the sleeper tall! in new anders.-U.P.I.
A SAFE DEPOSIT
Interest pold without
betion of Unked
Kingdom faceme ista
for YOUR FUNDS
SECURITY: Grung Assets Exceed £25,000,000
62%
STABILITY · Consistent Interest STRENGTH! Knowledge and Kaxperience SAFETY No linked Depreciation SUCCESS Years of Development STANDARDS The Best in Banking
Bank Deposits of £100 to £230,000 accepted Besut, today for "Bank Deposit Account" Booklet No. 10.14 from General Manager
LOMBARD BANKING
LIMITED BANKERS
Head Ofies: LOMBARD HOUSE, CURZON STREET, PARK LANE, LONDON, W. Quo uli (30 linas)
Ampoclated Banka
LOMBARD, DANKING (FIT East) KAMIKED Union B. Bingapore. P,D. Box 2000. Tel: 3037:
Branches and Ayunta thronghand the Wheld
an Aircraft
international Nickel
Inlemations Paper Intl Tel & Tri
John Manvilis Co.
Tyre
Gulf Ou、..... Hayden Nowport Corp.
Mining Co.
agents Now however,
for in all the companies in
which Inland Steel Co.
Interchemical Corp. Mutual Funds both in the Unili- the Fund has invested.
In Business Machines Int'l Harvester is that ee Sintes and Canada are ex- The main advantage panding in Hungkong and one if one or two companies suffer has recently set up its Far temporary dimculties, the Eastern division's headquarters chances are that the great bulk hurt. Plans urc being of the other securities will more formulated to inform the pubile thon compensate for them. Inore about the workings of such
The dividends of the Funds funds;
average around five per cent per onnum with capital gains, compured with seven to elght per cent by local companies the Hongkong Stock Exchange. Even Though there is a two or three per cent difference in the yearly dividend a number of Investors
These funds, It is claimed, are ident for small-time in vestors, who with their small savings can invest in American or Canadian stocks for as Bitle 25 HK$60 J month with dividend 'declaruliona every three months.
Hard To Tell
on
Italwar, industry Kanaan C. Power & Light Kennecott Copper ........ Lagets Moyers Tob. Co. Lockheed Airersit Loews Incorp Lone Star Cinent Co Lowenstein & Bons.
Mam, Inc. "Trust Co. McDonnell Aircraft
Stock Exe.)
Steep Rock (Toronto Excel)
Storing Drug Co.
| Stokely-Van Camp,
Btudebaker-Packard Corp.
Sunshine Mindzur
Twentieth Century Fux m
Union Ou of Cal.
3346 Union Pacific Ralway
30 Untied Airratt
57% 15. Foll "B"
55.8. Gypsum
180
U.S. Line C
33.9, Rubber
101 US. Smelung
3424 1.8
Alee
235U.B. Steel 7 F.C, PP
86
Warner Bros.
407%
g Westinghouno Air Brake Westinghouse Plectric 60% West Va. Pulp & Paper Wentworth .......
בן
Trade Tour
Jun/Mar.
Apr/June
P
E&A
COMPANIES
PASSENGER/Freight SERVICE
PENINSULAR G ORIENTAL S.N. CO.
Leaves London
Outwarda "SINGAPORE"
"CARTHAGE" *SOUDAN" "CANTON"
* KHYBER"
. "SURAT"
Homewards "SUNDA" *
"CARTHAGE"
Salled 6/5
Salled 28/3
7th Jupe Zsi June
IBUS June
7th July
Loves Hongkong 20th Juno 4th July
"SINGAPORE” * 18th July
"CANTON"
true Dongkong
14th June
30th June
21st July.
28th July
6th AuguT 18th August
Dae London
10th July
5th Augus
18th Augus
1st August
"SOUDAN" * 18th August
Int September
2511
September
Via B'pore, Tenaar, Colombe, Bombay, Aden & PL, naid
* "HUNDA", "SINGAPORE?" and "SUVDAN? rail S'pore, Ft. B'wet, Penang, Aden, Pt. Bald, Havre, Landon, Hamburg, notierduta & Antwerp.
BBK
Ottawa, June 12.
*Trade Canadian 115 Gordon Churchill,
74%
4146
Minister, announced 434today that two Chinese represen- talives were at present visiting Canada for
Af the purpo5% Increasing trade between the two countries.-France-Presse,
"SANTHIA" due 26th June salis 27th June
"FULTALA” due
Exchange Rates
02/
7015
18h
usiness was done In the icca) unofficial axchange market morning at the following rates:- U.S. dollar (per $1) Lu Sterlingen (per 21}
thie
Aundražimas notes (per ell
314 | Indonesian raplah (per 100) ..
Siam tieni (per 100) 33% Bingapore (Stealts)
have said that KING MERRITT & COMPANY
given the choice betworn these funds will Hongkong and the Whether
United catch on in Hongkong and Stales, they would invest in whether they will affect in-Amerien. vestment on the Hongkong One said that the U.S. dollar Stock Exchange is hard to tell.
was about · the strongest Before these funds came to currency in the world. Another the Colony It was believed that said that he thought it would be only certain sections of the safer to invest in the United Hongkong public Invested in States. either the Hongkong, Americon or Canadian markets.
Confident
Those who dabbled in tho American and Canadian mar Another thought otherwise. keta Included people
from By investing on the Hongkong Shanghal who had never in-Stock Exchange he would have vest in the Hongkong mat- his money near him and con- kot,
the who had bought venlent. It he bad it in เพ American or Canadian stocks United States, he would have to before they came to Hongkong.pay banking interest to get the Then there were local peopin money to Hongkong.
Another who has been con- who became tirext of the dull-
with the market for ness of the local market. They teeted transferred their investmentsome yours said that he donbied whether local investors would to North America.
Mutual Funds invest their take to the idea of Mutual Funds money in a number of com- quickly. The majority of vas- panies in America varying before, he continued, want to see a tween 40 to more than 100, and share certificate just to SUTÉ the person who buys a share in themselves that they did, own a Mutual Fund than an interes something.
An International Organization Specializing in Mutual Funds
Are you one of those people who still think that you have to be a millionaire to be an investor?
If you believe that you need an eye-opener — and fast. It is our mission to bring to the man with only HK$60 a month or those with millions, educational information on this fastest growing investment. Nobody will hound you to buy anything, but we will do our best to bring you the latest information and show you how you too can make money by being an investor In a large group of the World's Greatest Corporations.
Drop this coupon in the post to-day .
KING MERRITT & COMPANY LTD.
31 Prinilog House, B Duddell Street, Hongkong. Tel. 32128, An "International Organization Specialising in Mutual Funds
Please send me free and without obligation further Information on Mutual Funds.
NAME:
OFFICE ADDRESS:
HOME ADDRESS: TELEPHONE:
BRITISH INDIA S.N. CO., LTD.
1st July raits 2nd July
"BANGOLA" duo 4th July
salis sih July
from Japan
for Star
Bangoon &
from Japan
Cutta
Penang.
for Singapore, Penang, Rangoon, Calcutta Chittagong
from Cateutta, Rangom, Penang & Singapore
for 3span
P. & O./B. 1. JOINT SERVICE
“TTAUBA"
dae 10th Junc
from Bhatnager, bay, Cochin, Penang & Singapore
101 Japan
from Karachi, Bombay, Dochin, Singanore Car Nicobar
for Japan
from Japan
Jar Singapore. Pennnit, Madras, Dombay, hau negar & Karachi
"UMARIA"
il 2011 June
duo
3rd July
Salle dih July
'PACHUMBA” due 4th July
ails 7th July
Born-
EASTERN & AUSTRALIAN 5.S. CO., LTD.
*NELLORE" in Port
·
"NANKIN"
*
*
13th June
From N. China for Labuan, Gandakan. Brisbane, Sydney, Now cartie Melbourne A Adelalde
dos and June ·Crow Austra sails 24th June [ex Japers
All voornia have liberty to call at any porta en
or all the ronta a îbe ronts à mining, men sahfecu
to change or amendment with or without notice,
For full particulars apply for: MACKINNON, MACKENZIE & CO. OF HONG KONG LID. Telephone Nos: 27721-4.